L Brands CEO Les Wexner said Friday that the company doesn't "believe network television is the right fit" moving forward, according to Fox News report, citing an internal memo from L Brands CEO.
"For the past few months, we've said that we are taking a fresh look at every aspect of our business — from merchandising, marketing and brand positioning, to our real estate portfolio, digital business, cost structure… literally everything," Wexner said as cited by Fox News. "We have made enormous progress in a very short time, and are looking forward to a successful fall and holiday season with an elevated, fashion-forward assortment…"
"The strength and positive perception of Victoria's Secret brand are unparalleled, and our fashion show has revolutionized the mix of fashion and entertainment around the world… a key factor in the building of the brand," L Brands CEO elaborated.
Switching to the idea that "fashion is a business of change," Wexner noted that the company "must evolve and change to grow."
"In 2019 and beyond, we're focusing on developing exciting and dynamic content and a new kind of event — delivered to our customers on platforms that she's glued to… and in ways that will push the boundaries of fashion in the global digital age," Wexner said.
Ratings for the Victoria's Secret Fashion Show have fallen in recent years. In 2018 the Show got its smallest-ever audience of just 3.3 million viewers, down from 5 million the year prior, the Bloomberg reports says.
